Why Won't They Die?

Will someone please go bankrupt already? Will someone exit some game, banks, mortgages, anything financial, cable? The fact that Thornburg (TMA - commentary - Cramer's Take) is still alive and trading is an embarrassment. The fact that some of the truly defaulting homebuilders and developers haven't crushed common and moved on is crazy.

But I think I have the worst one, and it isn't related to homebuilding: Charter Communications (CHTR - commentary - Cramer's Take).

Here comes still one more debt deal from these clowns who have had multiple opportunities to raise hundreds of millions in equity multiple times and never chose to do so.

This is one of those serial skaters that should just reorganize and crush the equity AND the junior bondholders. It is hilarious to see how it endlessly hangs on.

One of the defining parts of this particular era is the ridiculous nature of the hangers-on and how they create a false impression to common-stock holders that there is net worth for them.

We need to clean up the indebted companies and start over. We need combinations that weed out the deadwood. We need banks and homebuilders to shutter. And we need the darned walking dead like Charter to just be dead.

It never ends.

At the time of publication, Cramer had no positions in the stocks mentioned.

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